Business & Economy

China’s foreign trade grows 7.8 percent year-on-year in November

Beijing, Dec 7 (efe-epa).- China’s international trade increased by 7.8 percent year-on-year in November, the General Administration of Customs announced Monday.

The exchanges with the rest of the world stood at 3.09 trillion yuan ($472.82 billion) in the last month.

The Asian giant’s exports rose by 14.9 percent year-on-year while imports fell by 0.8 percent.

The country’s total exports amounted to 1.8 trillion yuan while imports were 1.29 trillion yuan.

Thus, China’s trade surplus was 507.1 billion yuan during November, a year-on-year increase of 92.6 percent.

China’s foreign trade during the first eleven months of 2020 increased by 1.8 percent year-on-year to reach 29.04 trillion yuan.

According to the General Administration of Customs of China, between January and November of this year, China’s imports and exports with its five main trading partners – the Association of Southeast Asian Nations (ASEAN), the European Union (EU), the United States, Japan, and South Korea – increased.

China’s trade with ASEAN grew by 6.7 percent during the first eleven months of 2020, making the regional bloc China’s biggest trading partner, with 14.6 percent of the volume of the Asian country’s foreign trade denominated in yuan.

Not far behind was the EU, with 13.9 percent of the total volume of China’s international trade, with a year-on-year increase of 4.7 percent in the period between January and November of this year. EFE-EPA


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